The global hydropower generation market is expected to head toward expansion in the coming years, owing to rise in demand for clean energy across the globe. Rapid industrialization and urbanization across the developing countries such as India and China have surged the energy demand significantly.
In addition, rise in demand for renewable energy and reduction of the dependency on conventional fossil fuels for energy generation has led to set up of various hydropower generations across these countries. This is expected to drive the growth of the market during the forecast period. However, requirement of high capital and operational expenditures, along with long gestation periods restrains the growth of the market.
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Based on capacity, the hydropower generation market is fragmented into small hydro power plant (up to 1MW), medium hydro power plant (1MW – 10MW), and large hydro power plant (above 10MW). The large hydro power plant (above 10MW) is the leading segment that dominated the global market with more than three-fifths of the total market share in 2019.
Region wise, the hydropower generation market size is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for a major global hydropower generation market share in 2019, and dominated the global market with nearly half of the total market share in 2019.
Key players operating in the global hydropower generation market include Andritz Hydro USA Inc., GE Energy, CPFL Energia S.A., Sinohydro Corporation, IHI Corporation, Alstom Hydro, China Hydroelectric Corporation, China Three Gorges Corporation, ABB Ltd, and Gerdau S.A.
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Key findings of the study
- The large hydro power plant (above 10MW) segment dominated the global market hydropower generation with around 65.0% of the market share in terms of revenue.
- The medium hydro power plant (1MW – 10MW) segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 30.5% from 2020 to 2027.
- Asia-Pacific dominated the global hydropower generation market with around 49.2% of the market share in terms of revenue. In addition, it is also estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.2% from 2020 to 2027.
Governments imposed the lockdown to prevent the spread of coronavirus. This resulted in postponement of ongoing and proposed projects of governments. However, the impact on facilities with high level of automation has been lesser as compared to those that do not have automation.
There have been uncertainty and liquidity shortages, which in turn, led to occurrence of risks related to financing and refinancing of some of the hydropower projects. Moreover, few development and modernization projects have been halted as the supply chain disrupted.
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